Question

Sales (all on account).......................................... $807,000 Cost of goods sold............................................. 446,000 Gross margin....................................................... 361,000 Selling and administrative expense...... 186,000 Net operating income....................................... 175,000 Interest expense.................................................. 39,000 Net income before taxes................................ 136,000 Income taxes...................................................... 40,000 Net income......................................................... $ 96,000

          Sales (all on account).......................................... $807,000
Cost of goods sold............................................. 446,000
Gross margin....................................................... 361,000
Selling and administrative expense...... 186,000
Net operating income....................................... 175,000
Interest expense.................................................. 39,000
Net income before taxes................................ 136,000
Income taxes...................................................... 40,000
Net income......................................................... $ 96,000

Sales (all on account).......................................... 807,000
Cost of goods sold............................................. 446,000
Gross margin....................................................... 361,000
Selling and administrative expense...... 186,000
Net operating income....................................... 175,000
Interest expense.................................................. 39,000
Net income before taxes................................ 136,000
Income taxes...................................................... 40,000
Net income......................................................... 96,000

Added by Marvin M.

Question

Please give Ace some feedback